Wealth Enhancement Advisory Services LLC Boosts Holdings in Suburban Propane Partners, L.P. $SPH

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Suburban Propane Partners, L.P. (NYSE:SPH) by 7.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,063 shares of the energy company’s stock after acquiring an additional 1,460 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Suburban Propane Partners were worth $369,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Avantax Advisory Services Inc. lifted its position in Suburban Propane Partners by 3.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 23,568 shares of the energy company’s stock valued at $495,000 after acquiring an additional 818 shares during the period. Farther Finance Advisors LLC lifted its position in Suburban Propane Partners by 275.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,363 shares of the energy company’s stock valued at $29,000 after acquiring an additional 1,000 shares during the period. Summit Financial LLC lifted its position in Suburban Propane Partners by 2.0% during the 1st quarter. Summit Financial LLC now owns 54,049 shares of the energy company’s stock valued at $1,136,000 after acquiring an additional 1,044 shares during the period. Janney Montgomery Scott LLC lifted its position in Suburban Propane Partners by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 50,472 shares of the energy company’s stock valued at $1,060,000 after acquiring an additional 1,338 shares during the period. Finally, Wealthstar Advisors LLC lifted its position in Suburban Propane Partners by 5.9% during the 1st quarter. Wealthstar Advisors LLC now owns 34,136 shares of the energy company’s stock valued at $717,000 after acquiring an additional 1,903 shares during the period. 30.94% of the stock is owned by hedge funds and other institutional investors.

Suburban Propane Partners Stock Performance

Shares of SPH stock opened at $18.73 on Wednesday. The company has a 50 day moving average price of $18.49 and a 200-day moving average price of $19.03. Suburban Propane Partners, L.P. has a 52 week low of $16.92 and a 52 week high of $22.24. The firm has a market capitalization of $1.23 billion, a PE ratio of 12.65 and a beta of 0.32. The company has a quick ratio of 0.46, a current ratio of 0.70 and a debt-to-equity ratio of 1.90.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, August 7th. The energy company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.06). The business had revenue of $260.15 million for the quarter, compared to the consensus estimate of $270.00 million. Suburban Propane Partners had a net margin of 6.79% and a return on equity of 16.12%.

Suburban Propane Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.9%. The ex-dividend date was Tuesday, August 5th. Suburban Propane Partners’s payout ratio is 87.84%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Suburban Propane Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Suburban Propane Partners in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Suburban Propane Partners Profile

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, fuel oil, and refined fuels in the United States. The company operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.